Crypto Lender Nexo Committed to Foster Web3 Adoption with $150 Million Nexo Ventures Arm

Nexo, an all-in-one, regulated cryptocurrency platform that allows users to store their digital assets recently announced the launch of Nexo Ventures, a Web3-focused investment arm.

What Is Nexo Ventures?

Web3 has been all the rage lately as evident from the enormous amount of capital pouring into the nascent industry that has taken the world by storm. However, despite its huge potential, just like any other novel industry, Web3 suffers from the lack of necessary tools and infrastructure that can provide the foundation for a sustainable industry for decades to come. Nexo aims to tackle the aforementioned problems facing the Web3 industry through its Nexo Ventures arm. Web3 promises to give back users complete control over their data by developing a decentralized internet. In addition, Web3 introduces several new revenue opportunities through users controlling their data. However, to achieve these ambitious goals, the necessary tech infrastructure and tools must be in place. Nexo realizes that now is a good time to support developers, projects, and companies exploring Web3 opportunities. To that effect, Nexo, a regulated institution for digital assets has set up the Nexo Ventures fund and committed $150 million in funding to the new initiative. Designed to invest in and acquire Web3-focused initiatives, Nexo Ventures is committed to guide early-stage Web3 projects with unparalleled potential. Notably, any project that shows synergies with Nexo’s core business can apply for funding and support from Nexo Ventures. It’s worthy of note that Web3 is a very broad concept that cuts across several industry verticals. Nexo Ventures has identified DeFi innovation, Metaverse, NFTs, GameFi, Payments, Trading, and Compliance as some of the core focal points of the Web3 space. Moreover, Nexo Ventures aims to explore other initiatives that fall under the Web3 umbrella that might prove to be exciting and important opportunities in the long run.

How Is Nexo Ventures Different from Other Investment Funds?

It’s no secret that the Web3 industry has witnessed the launch of numerous investment funds that are guiding and providing support to a wide array of established and up-and-coming projects, protocols, service providers, and others. However, Nexo Ventures takes a slightly different approach to ensure the projects receive the necessary support on their journey. Commenting, Tatiana Metodieva from Nexo Ventures, says:

“Our investment value proposition differs from most traditional investment funds. We’re native to and have a deep understanding of the digital asset industry and technology. We prioritize strategic investments and aim to integrate innovative solutions into Nexo’s product ecosystem and across our global market footprint. We explore the feasibility of enabling Nexo’s users to invest alongside us, thereby leveraging our capabilities to facilitate investor diversification and wealth maximization.”

Close followers of the cryptocurrency and blockchain industry know that Nexo is an established name in the space with years of experience. The company noted that it will commit to extensive marketing and community support to ensure integrated projects achieve an optimal business model deployment. Most notably, partnering protocols can count on extra liquidity via Nexo Ventures which will help them streamline day-to-day operations. In essence, the Nexo Ventures arm extends Nexo’s enviable investment record. To date, Nexo has contributed to BCB Group, Bware Labs, Interlay, Oredo, Rain, Texture Capital, and others. In addition, Nexo’s partnership with Three Arrows Capital in late 2021 allowed it to become the first lender accepting NFTs as collateral.